hannagan bassett financial services pty ltd -...
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It is important that you read this Financial Services and Credit Guide (FSCG). It contains information that will help you decide whether to use any of the financial services offered by us, as described in
this guide, including:
who we are and how we can be contacted
the advice and services we provide
information about our licensee AMP Financial Planning Limited (AMP Financial Planning)
our fees and how we, your adviser and AMP Financial Planning, are paid in connection with
those services
how we manage your private information
how you can complain about a matter relating to us or AMP Financial Planning
Documents you may receive
We will provide you with a number of documents as you progress through our financial planning process to capture each stage of your advice journey. We may provide these documents to you
electronically to your nominated email address, unless otherwise agreed.
When we provide personal advice it will normally be documented and provided to you in a Statement of Advice (SoA), known as a financial plan. The financial plan contains a summary of your goals and the strategies and any financial products we may recommend to achieve your goals. It also provides
you with detailed information about product costs and the fees and other benefits we and others will
receive, as a result of the advice we have provided.
If we provide further personal advice a financial plan may not be required. We will keep a record of
any further personal advice we provide you for seven years. You may request a copy of such records
by contacting our office during that period.
When we provide credit advice we will conduct a preliminary assessment to determine the suitability
of a particular product. This is normally documented and provided to you in a record of debt advice or a Credit Proposal. We will retain a record of the debt advice or Credit Proposal which you may request by contacting our office within seven years of the assessment. We will only provide
recommendations to apply for a particular credit contract with a certain lender or increase the credit limit of a particular credit contract where the contract meets your needs and objectives and is not
unsuitable to your circumstances.
If we recommend or arrange a financial product for you we will provide a product disclosure statement (PDS) or investor directed portfolio service (IDPS) guide where relevant. These documents contain the key features of the recommended product, such as its benefits and risks as well as the costs you
will pay the product provider to professionally manage that product.
You should read any warnings contained in your advice document, the PDS or IDPS guide carefully
before making any decision relating to a financial strategy or product.
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About our practice
Summary of the business
Our office contact details
This guide provides information about our advisers including their contact details, qualifications,
experience, the services they may offer and financial products they can provide advice on.
Name Hannagan Bassett Financial Services Pty Ltd
Australian Business Number 61 109 494 662
Authorised representative number 279682
Credit representative number 381011
Address U2 18 Casuarina Drive, 'Survey House', Bunbury, WA 6230
Phone 0897218744
Fax 0897911016
Email [email protected]
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Our advice and services
We can provide you with personal and general advice about specific services and financial products
listed below. We can also arrange for financial products to be issued without advice from us.
Individual advisers within our practice may not be qualified to provide advice in all of the services and
products noted below. Their individual profile guides will note any limitations to the advice they are qualified to provide. At all times we will ensure the appropriate adviser is available to you to provide
advice consistent with your goals.
The following table sets out the areas of advice we can help you with as well as the products and
services we can arrange.
Any additional advice or services we can offer you, or limitations to the list below, will be outlined in
Our Financial Advisers and Credit Advisers on page 16.
AMP Financial Planning maintains an approved products and services list, which includes products
issued by AMP companies and a diversified selection of approved Australian and International fund managers. These have been researched by external research houses as well as our in-house
research team.
AMP Financial Planning periodically reviews these products to ensure that they remain competitive with similar products that address similar client needs and objectives. Generally, we recommend products that are on the approved products and services list. However, if appropriate for your needs,
we may, subject to AMP Financial Planning’s approval, recommend other products.
A copy of the approved products and services list can be supplied to you upon request.
We can provide advice on We can arrange the following products and services
Investments strategies (strategic asset
allocation)
Budget and cash flow management
Debt management (including borrowing for
personal and investment purposes)
Salary packaging
Superannuation strategies and retirement
planning
Personal insurance
Centrelink and other government benefits
Ongoing advice and services, including regular
portfolio reviews
Aged care
Superannuation, including retirement savings
accounts
Self-managed superannuation funds (SMSF)
Managed investments
Investor directed portfolio services (for example,
administration platforms)
Deposit and payment products (for example
term deposits, cash management accounts and
non-cash payment products)
Standard margin loans
Retirement income streams, including pensions
and annuities
Personal and group Insurance (life cover,
disability, income protection and trauma)
Loans including mortgages and personal loans,
reverse mortgages and deposit bonds
Life investment products including whole of life,
endowment and bonds
Arranging for listed securities, shares and
debentures to be bought and sold via a platform
and broker.
Where an administration platform is
recommended, we also offer a Limited
Managed Discretionary Account service
Limited selection of investment guarantees
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If we recommend a new platform or portfolio administration service, we use those issued or promoted by the AMP Group or as otherwise approved by AMP Financial Planning and where appropriate to
your circumstances.
As at September 2017, the lenders whose products are most commonly recommended by Accredited
Mortgage Consultants authorised by AMP Financial Planning Pty Limited are:
AMP Bank
ANZ
ING Direct
AFG Home Loans
Westpac
Commonwealth Bank
Bankwest
Macquarie Bank
St George
National Australia Bank
Tax implications of our advice
Under the Tax Agent Services Act 2009, Hannagan Bassett Financial Services Pty Ltd is authorised by the Tax Practitioners Board to provide tax (financial) advice services on matters that are directly related to the nature of the financial planning advice provided to you. We will not consider any other
tax matters in our advice to you. Where tax implications are discussed they are incidental to our recommendations and only included as an illustration to help you decide whether to implement our
advice.
Transaction services
If you do not require advice, we can also arrange for you to apply for limited types of financial
products where we can take your instructions and arrange for the transaction to be completed, without providing personal advice. If you wish to proceed without our advice, we will ask you to confirm your instructions, which we will document in writing. You can ask us for a copy of this documentation at
any time.
Your relationship with us and using our services
You can contact us directly with any instructions relating to your financial products. This includes
giving us instructions by telephone, mail or email. We can only accept your instructions via email once
you have signed an authority form.
We will work with you to agree what advice and services we will provide and when and how often we
will provide them.
Where you agree to ongoing advice and services, the details will be documented and provided to you in a service agreement. This includes the frequency of contact between us, service standards that
may apply, any ongoing fee arrangements and how the service can be terminated.
If at any time you wish to terminate your relationship with us, please contact us using the details
shown in this guide.
Changing service providers
To ensure that you are provided at all times with ongoing servicing to meet your financial needs, we may transfer our rights and obligations under our servicing arrangement with you to another adviser
or financial planning practice within the AMP network or to another AMP licensee (the new service provider). If we do this, the new service provider will provide the ongoing servicing to you and will be entitled to the agreed on-going fees. The new adviser will also take over the rights and obligations on
the same terms and conditions set out in the servicing arrangement and we will be released from those rights and obligations. We will write to you in advance of a transfer occurring, to introduce your new service provider. You may notify your new service provider at any time if you want to vary or end
your servicing arrangements.
Providing information to us
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It is important that we understand your circumstances and goals, so that we can provide you with appropriate advice and services. You have the right not to provide us with any personal information.
Should you choose to withhold information, or if information you provide is incomplete or inaccurate
the advice or services we provide you may not be appropriate for you.
It is also important that you keep us up to date by informing us of any changes to your circumstances
so we are able to determine if our advice continues to be appropriate.
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Our fees
The fees charged for our advice and services may be based on a combination of:
A set dollar amount; or
A percentage based fee.
Our agreed advice and service fees may include charges for:
Initial advice; and
Ongoing advice.
Please note that for services in relation to insurance, banking deposit products, some loan products
and older investment products, commissions may be paid by the product provider as follows:
Initial commission - a percentage of the value of your investment contributions, loan balance or
insurance premiums; and
Ongoing commission - a percentage of the value of your investment balance, outstanding loan
amount or premiums, usually calculated at the end of each month in which you hold the
investment or loan, or on renewal of insurance products.
Payment methods
We offer you the following payment options for payment of our advice fees:
BPAY, direct debit (savings), credit card or cheque; and
Deduction from your investment.
All fees and commissions will be paid directly to AMP Financial Planning as the licensee. They retain
a percentage (as a licensee fee) to cover their costs and the balance is passed on to us. The percentage is determined annually, based on a number of factors, including our business revenue for
the prior year.
For details of our service fees, please refer to Schedule of fees on page 20.
Fixed service fees
We offer the following services at these fees:
Other costs
Where other costs are incurred in the process of providing our advice and services to you, you will be
liable for these costs. However, we will agree all additional costs with you prior to incurring them.
Other benefits we may receive
The following is a list of benefits we may receive other than those explained above. These are not additional costs to you. These benefits may be monetary or things like training, events or incentives
we are eligible for.
In addition to the payments we may receive for our advice and services, we may receive other support services from the licensee. We may also be eligible to receive financial and training
assistance, prizes and awards or events in recognition of financial planning excellence and innovation, and business performance. These benefits are paid at the licensee’s discretion and the
amounts are set by the licensee from time to time (usually on an annual basis).
Service Fee
Basic Plan Fee $1,540
Comprehensive Advice $5,500
Transaction without advice service $220.00 per hour
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We may also participate in business lunches or receive corporate promotional merchandise tickets to
sporting or cultural events and other similar items.
Development, management and advice recognition
We may be eligible for Development management and advice (DMA) recognition payments bas ed on our performance relative to other AMP Financial Planning practices in the previous year. Up to 30% of
all AMP Financial Planning practices may be eligible for DMA payments.
The DMA payment is based on a percentage of our practice revenue. Our DMA percentage will be set annually and may range from 0% to 10% depending on our ranking. The relevant percentage is then applied to our practice revenue and the resulting payments are received twice a month (the ‘payment
period’).
For example, if our DMA is set at 3% and our revenue for the payment period was $8,500, we would receive $8,500 x 0.03 = $255. Assuming an average revenue of $8,500 per payment period, the total
DMA payment received in a year would be $255 x 24 = $6,120.
How our performance is ranked
Ranking of practices is determined yearly by a points system which is a broad measure of the growth and professionalism of our practice as compared to other practices in the AMP Financial Planning
network. The points system is based on a combination of factors within a balanced scorecard such as the quality of our services, compliance, our business goals and our engagement with our clients through a measure called Advice Growth Index (AGI). AGI measures the value of our fee for service
revenue and the change in our clients’ product holdings over the prior measurement period (usually a
period of approximately 12 months).
Business growth advice payments
All practices within the AMP Financial Planning network are eligible for Business Growth Advice
(BGA) payments. The payments are based on our practice revenue.
BGA payments are set at 1% of our practice revenue. Payments are received twice each month. For example, if our practice revenue was $8,500 in a payment period, we would receive $8,500 x 0.01 =
$85. Assuming an average revenue of $8,500 per payment period, the total BGA payment received in
a year would be $85 x 24 = $2,040.
Business buy-back option
If we leave the financial services industry or can no longer appropriately service a selection of our
clients, and cannot find a buyer, AMP Financial Planning will either look after our clients or appoint
one of its authorised representatives to do so.
If this happens, AMP Financial Planning makes available a facility for practices to transfer the
servicing rights of their clients. The valuation will vary depending on certain factors including the
annual recurring revenue of our practice and the level of our service standards.
Personal and professional development
AMP Financial Planning provides personal and professional development opportunities in the form of
a multi-tiered development program, offered annually to qualifying practices.
Summit
The Summit is a national convention available to advisers from all AMP Financial Planning practices.
AMP Financial Planning subsidises the expenses of those who attend the convention up to a
maximum value of $1,200 per annum per practice.
Mid-tier and base-tier study tours
AMP Financial Planning will subsidise the cost of our participation in certain personal and professional development programs if we meet specific qualification criteria. The qualifying criteria is based on a combination of factors including the quality of our services, our business goals and our ranking
against other practices in AMP Financial Planning. The maximum amount of this subsidy is $12,000
per annum per practice.
Amicus program
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In addition to the above, certain practices that meet additional qualification criteria will be eligible to participate in the Amicus program, an additional personal and professional development program
organised by AMP Financial Planning. The additional qualification criteria requires long term achievement of the mid-tier study tour criteria. If a practice qualifies for the Amicus program, AMP Financial Planning will subsidise the cost of their participation up to a maximum value of $15,000 per
annum per practice.
Para-planning costs subsidy
We may be eligible for a subsidy from AMP in relation to paraplanning costs, depending on the number of paraplanning requests that we make in a particular month. If our practice submits a
minimum of 5 paraplanning requests per eligible authorised representative in our practice, we receive a discount of up to 25% in relation to these costs. For example, if the total cost of 5 SOAs is $1,000 we will receive a discount of up to $250 (25% x $1,000 = $250) and pay a discounted fee of minimum
$750.
Placement fees
From time to time AMP Financial Planning will receive fees from brokers or product issuers (including AMP group companies) for arranging client participation in Initial Public Offerings (IPOs) of financial
products. The fee, which is generally a percentage of the fee paid to the broker, varies from offer to offer and by the level of participation by AMP Financial Planning. We may share in this fee based on
the level of participation by our clients.
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Relationships and associations
It is important that you are aware of the relationships that AMP Financial Planning has with providers
of financial services and products as they could be seen to influence the advice you receive.
About our licensee
AMP Financial Planning Pty Limited
ABN 89 051 208 327
Australian Financial Services Licensee and Australian Credit Licensee
Licence No: 232706
AMP Financial Planning is a member of the AMP Group and has:
Approved the distribution of this FSCG
Authorised us to provide advice and other services as described in this FSCG
Authorised us to provide credit assistance services to you
AMP Financial Planning’s registered office is located at 33 Alfred Street, Sydney, NSW 2000.
About the AMP Group
AMP Financial Planning is a member of the AMP group of companies. We can provide advice on products from a wide range of financial product providers, some of which are part of the AMP Group
and as such AMP Financial Planning is affiliated with:
If we recommend a product issued by the AMP Group or a third party product issuer, they will benefit from our recommendation by receiving product, administration and investment fees, as well as fees paid by fund managers to distribute their product. These fees are all disclosed in the relevant PDS or
IDPS guide.
Authorised representatives and/or staff employed in our business may hold shares in AMP Limited, whose share price may be favourably affected by the sale of products issued by AMP Group
companies.
AMP Financial Planning’s relationships with other companies
AMP Services Limited provides administration services and distribution infrastructure services to several issuers of financial products and loan products under agreements entered into prior to 1 July
2013.
In return for those services, AMP Services Limited receives remuneration as set out below:
For investment products and loan products – up to 0.33%* p.a. of funds under administration,
the balance of any relevant cash account or the total loan value outstanding.
For insurance products – up to 10%* p.a. of the total premium paid.
National Mutual Funds Management
Limited
NMMT Limited
N.M. Superannuation Pty Limited
Multiport Pty Limited
ipac asset management limited
AMP Bank Limited
SMSF Administration Solutions Pty Ltd
AMP Capital Funds Management Limited
AMP Capital Investors Limited
AMP Superannuation Limited
AMP Life Limited
Cavendish Superannuation Pty Ltd
Australian Securities Administration
Limited (ASAL)
Super IQ Pty Ltd
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*includes GST
By way of example:
If total funds under administration for a particular investment product is $10 million, AMP
Services Limited would receive $33,000.
If total premiums for insurance products are $1 million, AMP Services would receive up to
$100,000.
From time to time, AMP Services Limited may facilitate access to AMP Financial Planning and its authorised representatives for issuers to train or educate AMP Financial Planning and its authorised
representatives on their products.
Arrangements with platform providers
We have arrangements with third parties for administration and support services in relation to the
products below.
WealthView eWRAP and PortfolioCare administration services
The range of WealthView and PortfolioCare administration services are issued by companies in the AMP Group. These companies have an agreement with Asgard Capital Management Limited (Asgard) under which Asgard administers the WealthView eWRAP and PortfolioCare administration
services in addition to administration and support services also provided by AMP companies.
If you access a product in the WealthView eWRAP or PortfolioCare range, then administration and, where applicable, custodial share and trustee fees are deducted from your account. These fees, as
set out in the product disclosure statement or IDPS Guide, are paid to AMP Financial Planning after
deduction of expenses for administration and support described above.
A full description of the fees is in the relevant product disclosure statement or IDPS guide. Our
practice does not receive any part of these payments.
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Confidence in the quality of our advice
If at any time you feel like you are not satisfied with our services, the following will help you
understand your options and find a resolution.
Contact your adviser and tell them about your complaint.
If your complaint is not satisfactorily resolved within three days, please contact AMP Advice
Complaints on [email protected], or put your complaint in writing and send it to:
Attention: National Manager, Advice Complaints
Level 16, 33 Alfred Street
Sydney NSW 2000
AMP Advice Complaints will try to resolve your complaint quickly and fairly.
If your complaint has not been resolved satisfactorily, you may escalate your complaint to one
of the following External Dispute Resolution Schemes listed in the following below.
You may also contact the Australian Securities & Investments Commission (ASIC) on 1300 300 630 (free call info line) to make a complaint and obtain information about your rights. You
can also contact the Financial Planning Association (FPA) at www.fpa.asn.au to make a complaint
(please note that the FPA cannot award compensation).
Professional indemnity insurance
We maintain professional indemnity insurance to cover our advice and the recommendations provided by your adviser. AMP Financial Planning is also covered by professional indemnity insurance and this satisfies the requirements imposed by the Corporations Act 2001 and National Consumer Credit
Protection Act. The insurance covers claims arising from the actions of former employees or representatives of AMP Financial Planning, even where subsequent to these actions they have
ceased to be employed by or act for AMP Financial Planning.
Any issues relating to financial advice, investments, superannuation or insurance matters
Financial Ombudsman Service (FOS)
GPO Box 3
Melbourne VIC 3001
1800 367 287
www.fos.org.au
Any issue relating to your personal information The Privacy Commissioner
GPO Box 5218
Sydney NSW 2001
1300 363 992
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Your privacy
We are committed to protecting your privacy. Below we outline how we maintain the privacy of the
information we collect about you.
Privacy Collection Statement
As part of the financial planning process, we need to collect information about you. Where possible we will obtain that information directly from you, but if authorised by you we may also obtain it from
other sources such as your employer or accountant. If that information is incomplete or inaccurate, this could affect our ability to fully or properly analyse your needs, objectives and financial situation,
so our recommendations may not be completely appropriate or suitable for you.
We are also required under the Anti-Money-Laundering and Counter-Terrorism Financing Act (AML/CTF) 2006 to implement client identification processes. We will need you to present
identification documents such as passports and driver’s licences in order to meet our obligations.
We keep your personal information confidential, and only use it in accordance with our Privacy Policy.
Some of the ways we may use this information are set out below:
Your adviser and AMP Financial Planning may have access to this information when providing
financial advice or services to you;
Your adviser may, in the future, disclose information to other financial advisers, brokers and
those who are authorised by AMP Financial Planning to review customers' needs and
circumstances from time to time, including other companies within the AMP group;
Your information may be disclosed to external service suppliers both here and overseas who
supply administrative, financial or other services to assist your adviser and the AMP group in
providing financial advice and services to you. A list of countries where these service providers
are located can be found in the AMP Privacy Policy;
Your information may be used to provide ongoing information about opportunities that may be
useful or relevant to your financial needs through direct marketing (subject to your ability to opt -
out as set out in the AMP Privacy Policy);
Your information may be disclosed as required or authorised by law and to anyone authorised
by you.
Your adviser and AMP Financial Planning will continue to take reasonable steps to protect your
information from misuse, loss, unauthorised access, modification or improper disclosure. You can request access to the information your adviser or AMP Financial Planning holds about you at any time to correct or update it as set out in the AMP Privacy Policy. The AMP Privacy Policy also contains
information about how to make a complaint about a breach of the Australian Privacy Principles.
For a copy of AMP's Privacy Policy visit http://www.amp.com.au/privacy or you can contact us.
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Our services for Managed Discretionary Accounts
We offer limited types of Managed Discretionary Account services (MDA services) within approved investment platforms. Through these services, you allow us to manage your investments for you, using our discretion and without obtaining your instructions before each transaction we undertake on
your behalf. However, we do not (and we are not authorised to) open new accounts, withdraw funds
or contribute funds to your investment.
What are the risks associated with using the MDA service?
By authorising us to make changes to your investments, you cannot claim we were not acting on your
behalf if we acted within the authority given. Therefore, our acts bind you. It is important you understand what we are authorised to do and that you carefully read and understand the activities
that you are authorising us to do on your behalf.
How can you instruct us to exercise rights relating to the financial products in your portfolio?
Generally, the financial products that we invest in on your behalf do not have any additional rights or entitlements attached to them. However, if there are, we will let you know. You can then instruct us
how you wish us to proceed.
Do you have to enter into a contract for us to provide MDA services?
Yes. This MDA contract will set out the terms and conditions of the authority and also the investment program, which sets out how your money will be invested. We will agree and prepare the investment program for you based on your relevant personal circumstances, your financial objectives and your
needs and review the program every 12 months.
Will the investment program in the MDA contract comply with the law?
If this is relevant, then the investment program set out in the MDA contract will comply with the law.
The relevant law is Division 3 of Part 7.7 of the Corporations Act. The contract will also contain:
statements about the nature and scope of the discretions we will be authorised and required to
exercise under the MDA contract
any investment strategy that is to be applied in exercising those discretions
information about any significant risks associated with the MDA contract
the basis on which we consider the MDA contract to be suitable for you, and
warnings that the MDA contract may not be suitable to you if you have provided us with limited
or inaccurate information. It will also specify that the MDA service may cease to be suitable for
you if your relevant personal circumstances change.
Do we provide custodial or depository services for your portfolio?
We do not provide custodial or depository services. This means that you will either hold the
investments in the portfolio, or the custodian nominated for that financial product will hold them.
This financial services guide complies with the ASIC Class Order 04/194.
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Australian Finance Group (AFG)
AFG is an aggregator and it acts as a gateway or interface between mortgage brokers and lenders by providing an IT platform through which brokers submit loan applications and deal with lenders as well
as providing some other ancillary services.
Lenders may offer incentives that are paid directly to the Accredited Mortgage Consultant. These may include indirect benefits for example business lunches, tickets to sporting or cultural events, corporate
promotional merchandise and other minor benefits.
Accredited Mortgage Consultants may be invited to attend the AFG National Conference. This is an annual event which offers Accredited Mortgage Consultants the opportunity for professional development and to hear industry updates and educational presentations by AFG and lender
sponsors. AFG subsidises some costs of attendance, which may include meals and accommodation. The value will depend upon a range of factors, including the nature of the courses and events
planned.
Any benefits that we may receive that are related to a loan recommended to you which is regulated by the National Consumer Credit Protection Act, will be disclosed in our advice to you prior to
application.
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Our Financial Advisers and Credit Advisers
About Peter Hannagan
Phone 08 97218744
Email [email protected]
Authorised representative number 249497
Credit representative number 381048
Qualifications
Diploma of Financial Planning
Certified Financial Planner
Professional memberships
Financial Planning Association of Australia
The advice and services I can provide
I am authorised to provide all the services listed in the Our advice and services section.
I am also an Accredited Mortgage Consultant and as a credit representative of AMP Financial
Planning I am authorised to provide credit assistance in relation to loan products.
Subject to meeting lender credit criteria, I can advise on loans relating to:
residential mortgages and home loans
personal loans
deposit bonds
reverse mortgages
Subject to meeting the lender’s credit criteria, along with any additional lender or AFG accreditations,
I can also advise on and/or arrange loans relating to:
commercial loans
SMSF loans
rural loans
The full list of approved lenders is available on request but is not an exhaustive list of lenders who
offer credit of the nature you may seek.
How I am paid
I receive the following from our practice:
salary
dividends
I am an employee/director and shareholder of Hannagan Bassett Financial Services Pty Ltd and as
such receive a salary plus dividends from Hannagan Bassett Financial Services Pty Ltd
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About Murray Bassett
Phone 0897218744
Email [email protected]
Authorised representative number 249661
Credit representative number 381049
Qualifications
Diploma of Financial Planning
Certified Financial Planner
Professional memberships
Financial Planning Association of Australia
The advice and services I can provide
I am authorised to provide all the services listed in the Our advice and services section.
I am also an Accredited Mortgage Consultant and as a credit representative of AMP Financial
Planning I am authorised to provide credit assistance in relation to loan products.
Subject to meeting lender credit criteria, I can advise on loans relating to:
residential mortgages and home loans
personal loans
deposit bonds
reverse mortgages
Subject to meeting the lender’s credit criteria, along with any additional lender or AFG accreditations,
I can also advise on and/or arrange loans relating to:
commercial loans
SMSF loans
rural loans
The full list of approved lenders is available on request but is not an exhaustive list of lenders who
offer credit of the nature you may seek.
How I am paid
I receive the following from our practice:
salary
dividends
I am an employee/director and shareholder of Hannagan Bassett Financial Services Pty Ltd and as
such receive a salary plus dividends from Hannagan Bassett Financial Services Pty Ltd
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About John Suckling
Phone 08 97345420
Email [email protected]
Authorised representative number 249474
Credit representative number 374574
Qualifications
Certified Financial Planner
Fellow of CPA Australia FCPA
Professional memberships
Member of Lions Club International since 1973
The advice and services I can provide
I am authorised to provide the services listed in the Our advice and services section of this guide,
except for the following:
Limited selection of investment guarantees
Self-managed super funds (SMSF)
Should you require advice and services that extend beyond my authority I can refer you to a suitably
qualified adviser.
I am also a Credit Representative of AMP Financial Planning and am authorised to provide credit
advice regarding how to structure debt, suitability of existing loan structures and repayment options. If you require advice involving mortgages or other lending products, I can refer you to an Accredited
Mortgage Consultant.
How I am paid
I receive the following from our practice:
salary
I earn a salary as an employee of Hannagan Bassett Financial Services Pty Ltd
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About Ryan Pitts
Phone 0897218744
Email [email protected]
Authorised representative number 446180
Credit representative number 446181
Qualifications
Diploma of Financial Planning
The advice and services I can provide
I am authorised to provide the services listed in the Our advice and services section of this guide,
except for the following:
Aged care
Gearing and margin lending
Limited Managed Discretionary Account service
Self-managed super funds (SMSF)
Should you require advice and services that extend beyond my authority I can refer you to a suitably
qualified adviser.
I am also an Accredited Mortgage Consultant and as a credit representative of AMP Financial
Planning I am authorised to provide credit assistance in relation to loan products.
Subject to meeting lender credit criteria, I can advise on loans relating to:
residential mortgages and home loans
personal loans
deposit bonds
reverse mortgages
How I am paid
I receive the following from our practice:
share of revenue
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Schedule of fees
These prices should be used as a guide only. We will discuss your individual needs and agree our fees with you. The actual agreed fees will depend on factors such as the complexity of your
circumstances and goals and the scope of the advice.
Initial service fees
These are fees paid when you have agreed to receive our advice:
Ongoing service fees
We provide ongoing services to help you stay on track to meet your goals. The cost of these services
are as follows:
Commissions
I do not receive commissions on investments through new superannuation, managed funds or
retirement products. However, some products, particularly older products, may attract commissions.
Any commission amounts will be disclosed to you when providing my advice. The following table is a
guide of commissions I may receive.
Initial service Fee amount
Basic Plan Fee
Comprehensive Plan fee
Transaction without advice service
$1,540
$5,500
$220 per hour
Ongoing service Fee amount
Silver Service Package
An event based relationship with your Financial Planner
0.44% of funds under management. For example, if your account balance was $100,000, your fee would be $440.00
Gold Service Package
Premium contact with your Financial Planner
0.66% of funds under management. For example, if your account balance was $100,000, your fee would be $660.00
Diamond Service Package
Premium contact with your Financial Planner. 6 monthly review meeting
0.88% of funds under management. For example, if
your account balance was $100,000, your fee would be $880.00
Product type Initial commission Ongoing commission Example
Loans
Up to 1.65% of the initial
loan balance, of which
AFG retains between 0-
3% and passes the
remaining 97-100% on to
AMP Financial Planning.
AMP Financial Planning
then retains 5% and we
will receive the remaining
95%.
Up to 0.55% of the
outstanding loan balance
each year, of which AFG
retains between 0-3% and
passes the remaining 97-
100% on to AMP Financial
Planning. AMP Financial
Planning then retains 5%
and we will receive the
remaining 95%.
If your loan balance was
$100,000, initial
commission would be up
to $1,650, of which AFG
retains up to $49.50 and
AMP Financial Planning
receives $1,600.50. AMP
Financial Planning then
passes ($1,600.50 x 95%)
$1,520.48 on to us.
On an annual basis, the
commission on a
$100,000 loan balance
would be up to $550, of
which AFG retains up to
$16.50 and AMP Financial
21 | P a g e
All fees and charges include GST.
If an agreed advice fee is charged then we may rebate all or some of the commission.
Planning receives
$533.50. AMP Financial
Planning then passes
($533.50 x 95%) $506.83
to us.
Deposit bonds
Up to 22% of the deposit
bond fee, of which AFG
retains between 0-3% and
passes the remaining 97-
100% on to AMP Financial
Planning. AMP Financial
Planning then retains 5%
and we will receive the
remaining 95%.
N/A For example, if your
deposit bond fee is $400,
the commission would be
up to $88, of which AFG
retains up to $2.64 and
AMP Financial Planning
receives $85.36. AMP
Financial Planning then
passes ($85.36 x 95%)
$81.09 to us.